Stronger ringgit: Year-to-date, the ringgit has gained 2.05% against the US dollar, which makes the Malaysian currency one of the top performers in the region so far this year.
Energy
Brent crude was up 0.84% to US$50.14 per barrel at 3.36pm.
Forex
Ringgit down 0.05% to 4.1500 versus the US dollat at 4.04pm.
Top foreign stories
Temasek, GIC buy US$1bil in Alibaba stock in SoftBank sale: Singapore state firms GIC Pte Ltd and Temasek Holdings bought US$1bil (RM4.15bil) of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an US$8.9bil (RM37bil) sale by Japan’s SoftBank Group Corp, Alibaba’s biggest shareholder, the company said. - Reuters
Saudi, Iran set to clash over Opec oil output targets: Opec is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea. - Reuters
Top local stories
SOBA 2016 : Showcasing the best in Malaysian SMEs: The Star Outstanding Business Awards (SOBA) 2016 was launched today to honour the best and brightest in Malaysians small and medium-sized enterprise (SME) businesses. - StarBiz
Bursa appoints Herder director for its subsidiaries: Bursa Malaysia Bhd
has appointed William Francis Herder as independent director to the board of its subsidiaries, Bursa Malaysia Derivatives Bhd and its clearing house, Bursa Malaysia Derivatives Clearing Bhd, effective June 2. - StarBiz
MBAM against safeguard measures on steel: Master Builders Association Malaysia (MBAM) is against safeguard measures on steel products, as it feared prices of steel bars may be uncontrollable without free flow of imports. - StarBiz
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